Your bank account is changing - here's what you need to know

Each week BusinessDesk and the NZ Herald’s Cooking the Books podcast tackles a different money problem. Today, it’s the changes coming from open banking law changes, and a Commerce Commission investigation. Hosted by Frances Cook.

• Check out Frances Cook’s new money course, Money Made Simple, at francescook.co.nz, for a masterclass on everything from setting goals, creating a spending plan that works, mastering debt, beginning to invest, and understanding your KiwiSaver.

Your bank account is a fairly central part of your money life, and it’s currently undergoing changes from many different angles.

The Commerce Commission is investigating whether our big banks are overcharging, and whether there’s enough competition.

There are problems with fraud and scams, and questions over whether the banks are doing enough to stop it happening.

And there is change underway for open banking, to let you take control of your own data, and use your banking information to help your financial life run more smoothly.

It’s a lot, and you will start to see changes in how you interact with your bank because of it.

How to figure it out? Well it’s a fairly complicated area, but I’ve found someone who has the know-how to actually make it interesting.

Local boy done good Adrian Smith spent years with the big banks in the UK, learning how some of the best in the business get it done, and is now back in NZ, as one of those at the forefront of the change makers in our financial sector.

For the latest podcast I talked to Adrian Smith chief product officer and co-founder of Blinkpay.

If you have a question about this podcast, or a question you'd like answered in the next one, come and talk to me about it.

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